SINGAPORE - Singapore O&G's first-quarter net profit rose 23.7 per cent to $2.5 million, or 0.52 cent per share, as both its core businesses and its new paediatrics segment contributed higher sales, the women's and children's clinic operator announced on Monday (May 14).
Revenue for the three months ended March 31 grew 17.3 per cent to $8.2 million. Of the $1.2 million increase in sales, $0.5 million came from the obstetrics and gynaecology segment, $0.4 million from the cancer-related segment and $0.1 million from the dermatology segment. The group's new paediatric business, which comprises two clinics opened in 2017, accounted for $0.2 million of the revenue increase.
Employee remuneration costs grew 12.2 per cent to $3.2 million during the quarter, largely attributable to the addition of two specialist medical practitioners. As a group, specialist medical practitioners took 75 per cent of total remuneration expenses for the first quarter, compared to a 69.8 per cent share a year ago.
Looking ahead, Singapore O&G's directors expect the company to remain profitable in the next reporting period and for the next 12 months.